Property Mark Lim

Property Mark Lim In real estate since 1999

19/06/2026

19 June 2026, Friday

THE BUSINESS TIMES

Sunway MCL, CSC make bold bet on River Valley site with S$1,730 psf ppr bid at S$750.6m

A tie-up between Sunway MCL and CSC Land Group (Singapore) topped a field of four bidders with a S$750.6 million offer for the third River Valley Green site to be released for sale – likely the last available plot near Great World. The top bid at Thursday’s tender (Jun 18) for the prime District 9 parcel works out to a land price of S$1,730 per square foot per plot ratio (psf ppr), above expectations of between S$1,350 and S$1,700 psf ppr forecast by analysts.

THE STRAITS TIMES

Nearly 8,000 BTO flats in areas including Bayshore and Tengah to go on sale in October

Two Build-To-Order (BTO) projects in the upcoming Bayshore housing estate near East Coast Park will offer a combined 2,500 flats in the next sales exercise in October. Another project in Tengah, and more developments in the new housing estates of Sembawang North and Chencharu in Yishun, will also go on sale.

THE STRAITS TIMES

PUB launches flood guidebook for property owners, developers

Install mobile flood barriers to keep flood waters out. Apply waterproof coatings to protect exteriors from water damage. Build raised entrances to increase thresholds above flood levels. These are some measures landowners and industry professionals, such as architects and engineers, can find in a guidebook launched on June 18, which provides ideas on how to better protect their premises from floods.

EDGEPROP

Freehold boutique landed home project Solstice debuts with prices from $4,406 psf, in District 11

Homegrown boutique landed property developer Brand New Land Group has launched Solstice — a collection of four freehold terrace houses at 2, 2A, 2B and 2C Tan Sim Boh Road in District 11. They comprise two corner terraces and two inter-terrace homes, each three storeys high and with five bedrooms and a home lift, home gym, and rooftop ‘sky terrace’, coupled with a 4+1+1 bathroom configuration.

THE EDGE

Design new towns with 70-year-olds in mind: NUS Cities director

Compared to Singapore’s public housing programme from the 1960s to the 1980s, planners and architects today must design for a broader range of residents — especially the elderly. By 2030, one in four Singapore citizens will be aged 65 and above, but towns are designed “from day one, for young parents”, says Yeo Siew Haip, Practice Professor in the Department of Architecture, College of Design and Engineering at the National University of Singapore (NUS).

THE EDGE

Punggol Digital District sets blueprint for Singapore’s future industrial ecosystem

Singapore’s industrial estates can no longer be just “mono-land-use” developments. Instead, the future of industrial development lies in creating industrial ecosystems anchored by three dimensions — polycentric mixed-use developments, high-value industry ecosystems and sustainable technologies that support industrial operations, says David Tan, assistant CEO, development group, JTC Corporation.

18/06/2026

18 June 2026, Thursday

THE BUSINESS TIMES ONLINE

Room for more offices, homes and green spaces to make Orchard Road more vibrant

Marc Boey, executive director of property services at Far East Organization, said: “Bringing more homes, offices and office workers into and around Orchard Road will be key to making the precinct more vibrant and sustainable, rather than relying solely on tourists.” Chua Yang Liang, JLL South-east Asia head of research and consultancy, agreed, saying a sustained office and residential population would create baseline demand for F&B, services and convenience retail.

THE BUSINESS TIMES

HDB launches 6,952 BTO flats, including Prime projects in Berlayar and Upper Thomson

The Housing & Development Board (HDB) launched 6,952 Build-To-Order (BTO) flats for sale on June 17, including about 2,000 flats in Sembawang North with shorter waits of under three years. In all, seven BTO projects are on sale across Ang Mo Kio, Bishan, Bukit Merah, Woodlands and Sembawang.

THE STRAITS TIMES ONLINE

Geylang condo owners, management at odds over foreign worker housing ban

The management council of a Geylang condominium, Casa Aerata, has faced pushback from some owners after it passed two by-laws banning certain groups of foreign workers from living there. The affected owners – most of whom rent their units to companies – said they received legal letters from the 78-unit condo’s management corporation strata title (MCST) in April.

LIANHE ZAOBAO

At least nine new private residential projects expected to launch in H2 2026, injecting over 3,000 units into market

At least nine new private residential projects are expected to launch in the second half of this year, adding more than 3,000 flats to the market. Despite the challenging global economic climate, analysts believe that the limited supply of new private residential properties, coupled with low lending rates, will continue to underpin overall sales performance, whilst projects in prime locations are expected to be particularly attractive. Among the first projects to launch in July are Dunearn House and Lentor Gardens Residences. Located in the Bukit Timah area, Dunearn House comprises 380 units on a 99-year leasehold and is a joint development by Frasers Property, China State Construction Engineering Corporation and Sekisui House.

LIANHE ZAOBAO

Bedok and Geylang expected to be prime HDB sites; analyst says Toa Payoh may emerge as a ‘golden district’ project

The Housing & Development Board (HDB) will launch about 7,960 flats in the October Build‑To‑Order (BTO) exercise, spread across towns including Bedok, Toa Payoh, Tengah, and Geylang. HDB announced this on Wednesday (June 17) when it opened the year’s second BTO exercise, and simultaneously released details of the October launch. The seven projects will be located in Bedok, Geylang, Sembawang, Tengah, Toa Payoh, and Yishun, with Bedok offering two projects and the other towns one each.

17/06/2026

17 June 2026, Wednesday

THE STRAITS TIMES

$115m top-up given to fund R&D on optimising space and other urban issues here

A further $115 million will be set aside to research Singapore’s most pressing development problems, and find solutions to improve city life for residents. This includes research on making the best use of available space, managing heat and noise, and implementing nature-based solutions.

THE STRAITS TIMES ONLINE

Some Pine Grove owners raise legality concerns as estate attempts 5th collective sale at $1.78b

As mega condo Pine Grove enters the final leg of its fifth collective sale attempt at a lower reserve price of $1.78 billion, a group of opposing owners has questioned the legality of the process and the appointment of marketing agent ERA and BR Law. Owner Peter Tang told The Straits Times that some owners have told Pine Grove residents not to sign the collective sale agreement, claiming that the current attempt is illegal because the collective sale committee (CSC) did not invite marketing agents and law firms to participate in a tender exercise before appointing ERA and BR Law.

30/05/2026

29 May 2026, Friday

LIANHE ZAOBAO

Resale prices of non-landed private homes fell by 0.4 per cent in April, decline widens compared to March

Singapore's private home resale prices fell for the second consecutive month, with the overall resale price of non-landed private homes declining by 0.4 per cent month-on-month in April, a further widening of the drop from 0.1 per cent in March. Preliminary data released on 28 May by 99. co and SRX estimated that 1,125 units were resold in April, 20.9 per cent higher than in March, but 6.8 per cent lower than the April 2025 average and 9.5 per cent lower than the average for April over the past five years.

EDGEPROP

How the Greater Southern Waterfront transformation puts Pasir Panjang on the map

The Greater Southern Waterfront (GSW) is one of Singapore’s biggest long-term urban transformations — a 30km corridor stretching from Pasir Panjang to Marina East, slated for progressive development into a major belt for housing, recreation, lifestyle and work over the coming decades. Pasir Panjang sits at the western anchor of this waterfront corridor along the city’s southern coastline, and is increasingly drawing attention as the transformation takes shape.

28/05/2026

27 - 28 May 2026, Wednesday to Thursday

THE BUSINESS TIMES

Canberra Drive executive condo site is first to test market after EC rules tightened

In what will be the first test of developer appetite for executive condominium (EC) projects following a fresh tightening of rules, the government has launched the tender for an EC site at Canberra Drive in Sembawang. The 11,535-square-metre (sq m) parcel can yield about 185 units, with a gross floor area of 18,457 sq m.

THE BUSINESS TIMES

One Raffles Place attracting interest from IOI, CLI, tycoons: sources

One Raffles Place, a major office complex in the heart of Singapore’s commercial centre, is attracting interest from multiple suitors, according to people with knowledge of the matter. Parties that are looking to acquire the asset, which is being marketed for more than S$2.3 billion, include father-and-son property tycoons Raj Kumar and Kishin RK, Malaysian developer IOI Properties Group and Singapore asset manager CapitaLand Investment (CLI), the people said, asking not to be identified because the information is private.

THE BUSINESS TIMES

Allianz said to have leased about 78,000 sq ft at Shaw Tower

Allianz is understood to have leased about 78,000 square feet (sq ft) at the new Shaw Tower in Beach Road, in the biggest leasing deal signed so far at the redeveloped project. The group is expected to relocate from CapitaSky at 79 Robinson Road, where it is said to occupy about 88,000 sq ft. Its lease there will end in March 2027.

EDGEPROP

Flex workspaces get pricier in Singapore, led by Marina Bay; demand rises in Jurong: report

Singapore's flexible workspace landscape is seeing rising rates for co-working desks, growing interest from small teams, and longer commitments — with the Jurong area in particular gaining traction, according to analysis by The Instant Group, a marketplace for flex workspaces. Average desk rates across Singapore were up by 15 per cent in the first quarter of 2026 compared to a year ago, reaching US$687 ($877) per desk per month, the company noted in a May 25 report.

EDGEPROP

No room on campus? Co-living steps up for students in Singapore

Singapore has spent years positioning itself as a major education hub in Asia, and the pitch has worked. With foreign student numbers climbing, the tens of thousands who are expected to arrive in the city over the next few years will need somewhere to live. On-campus halls of residence, often heavily oversubscribed and not guaranteed after the first year or two at many universities, were not built to absorb demand at that scale. Meanwhile, the private rental market runs largely on annual leases, which can be a poor fit for students on semester timelines or short exchange stints.

LIANHE ZAOBAO

Pinnacle@Duxton five-room flat hits estate record while four-room resale sets national high

A five-room flat at the landmark Pinnacle@Duxton HDB development in Tanjong Pagar was recently sold for S$1.63 million, setting a new resale price record for the project and once again drawing market attention to price trends for premium public housing in the city area. At the same time, a four-room flat in the same development was recently sold for S$1.55 million, making it the most expensive four-room resale HDB flat in Singapore’s history. According to property website EdgeProp Singapore, the five-room unit sold for S$1.63 million last week is located on the 43rd to 45th floors of Block 1B at Pinnacle@Duxton. The flat measures about 1,130 sq ft, with an average price of around S$1,442 per sq ft. Its lease began in 2011 and has about 84 years remaining.

LIANHE ZAOBAO

148 properties auctioned in Q1 2026, nearly 70 per cent of which were sold under mortgage

Singapore recorded 148 auction listings in the first quarter of this year, the majority of which were residential properties. Analysts predict that the auction market will remain active throughout the year, driven by mortgagee sales. According to a first-quarter auction market report released by real estate consultancy Knight Frank, of the 148 listings, 103, or nearly 70 per cent, were mortgagee sales; 30, or 20 per cent, were sold by owners.

26/05/2026

26 May 2026, Tuesday

LIANHE ZAOBAO

Successful bidder for Adam Road black-and-white bungalow required to conduct archaeological study concurrently

As the market tender for Adam Park gets underway, the authorities will also concurrently conduct archaeological studies. In February this year, the Singapore Land Authority launched a tender for 19 conserved black-and-white bungalows in Adam Park, requiring the successful bidder’s team to include a project archaeological expert.

EDGEPROP

The Assembly Place to debut 'AI-powered' co-living property at Lorong 22 Geylang

The Assembly Place (TAP) has entered into a tenancy agreement with Char Yong (Dabu) Association for a dual-block property at 27 and 29 Lorong 22 Geylang. TAP plans to transform the property into Singapore’s “first AI-powered co-living development”, designed to deliver a “technology-abled and community-centric living experience”.

25/05/2026

23-25 May 2026, Saturday to Monday

THE BUSINESS TIMES

Ban on land sales, new launches for developers that deliver ‘defect-ridden’ projects

Developers that deliver “defect-ridden” housing projects or commit serious safety breaches may be barred from taking part in future residential land tenders or selling new homes for up to five years. In a circular issued on Friday (May 22), the Ministry of National Development, Urban Redevelopment Authority (URA) and Building and Construction Authority said that these tougher measures were introduced to provide greater protection for homebuyers and deter “severe errant developer behaviour”.

THE BUSINESS TIMES

CapitaLand chalks up over 80 per cent occupancy for Geneo cluster at Science Park; rents meet expectations

CapitaLand’s S$1.4 billion Geneo business park and life sciences development at Singapore Science Park (SSP) is over 80 per cent occupied, with rents achieved in line with expectations, the park’s developer said. Jonathan Yap, CEO of CapitaLand Development (CLD), told The Business Times that leasing demand has been “good so far, with a mix of large and small tenants from the life sciences and technology sectors”.

EDGEPROP

Buyer snaps up freehold Geylang Road shophouse before auction

A freehold two-storey shophouse located within the Geylang Conservation Area has been sold ahead of auction. The option to purchase has already been issued to the buyer, says Sharon Lee, Knight Frank Singapore’s executive director of auction and sales. The property was initially slated to go under the hammer at Knight Frank’s auction on May 21. Offered as an owner’s sale, the property carried a guide price of $6.4 million, or $2,766 psf based on its floor area of about 2,314 sq ft.

EDGEPROP

Gate+ sells 52 per cent in two days at average of $660 psf amid strong industrial demand

More than half the units at Gate+, the first strata-titled industrial development within the Tukang Innovation precinct, have been sold within two days of launch. As at May 24, 137 units (about 52 per cent) of the project’s 265 units had been sold at an average price of about $660 psf. The take-up at Gate+ follows robust demand seen at other recent industrial launches. Earlier this month, all 66 units at the freehold strata-titled industrial development CT Gold in MacPherson were sold within two days of launch.

THE EDGE

The Great Room grows to 10 locations with ‘managed solutions’ to debut

Four years after being acquired by CBRE-backed US flexible workplace provider Industrious, The Great Room has three back-to-back openings scheduled here, starting with the debut of The Great Room Keppel South Central in June Co-working, co-living and other sharing models gaining traction are built on the same fundamental principle: city-dwellers today want flexibility and experiences, says Su Anne Mi, CEO and co-founder of The Great Room by Industrious. “It works in a place like Singapore really well, because Singapore is small, we’re space constrained, we have a lot of global travellers who are always in and out, and everything is quite centralised.”

22/05/2026

22 May 2026, Friday

THE EDGE

1Q2026 strata industrial sales lowest since 2020: Savills Singapore

Strata industrial sales in 1Q2026 declined 17.5 per cent q-o-q to 335 deals — the lowest level since 2020 — with pricing diverging sharply by tenure, and freehold assets outperforming as investors opt for “longer-term value preservation”, according to Savills Singapore. “The subdued turnover reflects continued buyer selectivity, with capital deployment largely concentrated in assets offering stronger fundamentals, longer-term value preservation or operational advantages,” says Savills’ industrial report on May 13.

THE BUSINESS TIMES

Haidilao co-founder’s family buys second bungalow in Cluny Hill for S$85m

A family member of Haidilao co-founder Shi Yonghong is understood to have bagged a freehold bungalow in Cluny Hill for S$85 million. The property is next to the one that Shi, also known as Sean Shi, bought for S$50 million in 2022 from Dr Lee Wei Ling, the daughter of Singapore’s founding prime minister Lee Kuan Yew. Dr Lee died in 2024.

EDGEPROP

CDL sets sights on 570-unit Lucerne Grand launch, two new ECs and M Hotel Singapore renovation

City Developments Ltd (CDL) plans to launch its 570-unit Lucerne Grand private condo project on Lakeside Drive in 3Q2026, while its two executive condo (EC) projects in Woodlands and Senja totalling 732 units — not affected by the latest tightened EC rules — are expected to debut in 1Q2027. Located near Jurong Lake Gardens and beside Lakeside MRT Station, the Lucerne Grand project will comprise five 17-storey towers with commercial space on the first storey.

21/05/2026

21 May 2026, Thursday

LIANHE ZAOBAO

Local private residential rents rose 0.3 per cent month-on-month in April, hitting a new high

Benefiting from stable rental demand and limited new private residential supply, rents for non-landed private homes in Singapore rose for the second consecutive month, with overall rents increasing by 0.3 per cent month-on-month in April, reaching a record high. Preliminary data released on Wednesday, 20 May, by real estate website 99. co and the Singapore Real Estate Exchange (SRX) showed that 6,491 private residential units were rented out in April, 1.6 per cent higher than the 6,386 units rented out in March.

20/05/2026

20 May 2026, Wednesday

THE EDGE

Tengah Garden Residences, Vela Bay propel April new home sales to six-month high

Sales of new private homes surged to a six-month high in April as two mass-market new launches “supercharged” sales, says PropNex. Developers sold 1,548 new homes (excluding executive condominiums, or ECs) during the month, 19 per cent up m-o-m. Including the transactions done in 1Q2026, developers sold a combined 3,561 new units (excluding ECs) in 4M2026, or about a third of the 10,815 units sold in 2025.

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